The combined net worth of the 400 richest people across the globe has been reduced by $196.2bn in the last two trading days since UK voted to exit the European Union (EU), according to Bloomberg Billionaires Index.
The billionaires on the index control $3.8 trillion, which is a drop of 1.8% from the start of the year.
The worst hit among the group were Europe’s billionaires, 92 of whom lost $29.4bn, with their two-day decline reaching $81.7bn. The net worth of European billionaires slumped 5.1% since year-end.
Among European billionaires, Germany’s third-richest person Georg Schaeffler was the hardest hit and lost $1.9bn. He was followed by Europe’s richest person Spanish retailer Amancio Ortega who lost $1.5bn.
In the US and Canada, 150 billionaires lost a total of $62.5bn in two days. Their net worth is essentially flat for the year, with a collective gain of $236m.
Bill Gates and Mark Zuckerberg fared the worst among US billionaires, shedding $1.8bn and $1.6bn respectively.
In China, 26 billionaires lost $5bn in these two days. The net worth of these billionaires plummeted 7.4% since year-end.
Meanwhile, 69 billionaires added to their fortunes, including Osaka-based Keyence founder Takemitsu Takizaki who added $579.3m, and Japanese retailer Tadashi Yanai who raked in $552m.
Overall, 19 billionaires added more than $100m to their fortunes, the index revealed.